Vedanta Resources raises $1 billion through bond issue to repay debt

Mumbai: Miner Vedanta Resources said on Friday it had raised $1 billion through a bond issue and would use the proceeds to repay existing debt.

The bonds, sold in two tranches, were issued through Vedanta’s subsidiary Vedanta Resources Finance II plc and it attracted interest from global investors across Europe, North America and Asia, the company said.

India-listed Vedanta delisted from London last year but maintains a legal base in Britain. The decision was seen by some as a prelude to a potentially broader deal with bigger miner Anglo American Plc.

Credit Suisse (Hong Kong) Limited, J P Morgan Securities plc and Standard Chartered Bank acted as Joint Global Coordinators, Joint Lead Managers and Joint Bookrunners.

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